Learn about African food, history and culture

Africa is home to more unknown history than known. A map of Africa does not begin to show the vastness of people, culture, food, living and ancient history. Established 2008 Chic African Culture and The African Gourmet are learning tools to meet the demand for better education about the entire continent of Africa.

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Welcome from Chic African Culture and The African Gourmet

A lion that is caged will hate the one that is free.
- with love from your ancestors

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Saturday, October 17, 2015

What Does Africa and The NYSE Have to do with Each Other

What Does Africa and The NYSE Have to do with Each Other

Africa's Coffee, Cocoa, and Cotton rule the New York Stock ExchangeIntercontinental Exchange Groupsoft commodities market. African influences are extensive in the softs markets and are of vital importance to the international soft commodity trading of the world.

Africas Influence On The New York Stock Exchange and China

Testing Ethiopian Unroasted coffee beans

A stock exchange is a facility where stockbrokers
and traders can buy and sell securities, such as shares of stock and bonds and
other financial instruments. The New York Stock Exchange (NYSE) is the world's
largest stock exchange by market capitalization.

African influences are extensive in the soft markets especially in the case of cotton, cocoa, and coffee and are of vital importance to the international soft commodity trade on the Atlanta-based Intercontinental Exchange Group or ICE of the New York Stock Exchange, NYSE.

According to ICE, it became the center of global trading in soft commodities with its acquisition of the New York Board of Trade in 2007. Now known as ICE Futures U.S., the exchange offers futures and options on futures on soft commodities including coffee, cocoa, sugar, cotton, and frozen concentrated orange juice. What is a soft commodity? The definition of a soft commodity is a resource that is grown rather than mined such as coffee, cocoa, sugar, maize or corn, cotton, and tea.

Unroasted coffee is Africa’s leading soft commodities value export, cocoa beans are second and cotton lint is the third. Soft commodities play a major part in the futures market. What are futures? Futures are contracts that require traders to buy or sell assets at a set price at a set date in the future allowing farmers and other food producers to lock in the prices they would get for crops even before harvest time.

Ethiopia is the world’s fifth-largest coffee producer and Africa’s top producer. Coffee is Ethiopia's principal source of income and the world's demand for quality coffee is increasing steadily. More than 15 million people grow the crop for a living, hundreds of thousands of middlemen are involved in the collection of the crop from farmers and supply to the export and domestic market. A sizable amount of foreign exchange, accounting up to 30% of the total yearly export income, is derived from coffee.The work of roasting, packaging, retailing and other assorted workings in the coffee value chain are done by companies outside of the African continent.

Raw Benin Africa cotton

Africa does not benefit from the processing and manufacturing portion of the coffee bean, only the agricultural. Africa produces well over 65% of the world’s cocoa beans. Many African countries now grow cocoa trees, Sierra Leone, Cote d'Ivoire, Ghana, Togo, Nigeria, Cameroon, Equatorial Guinea, Gabon, and Congo, but the main producers are Ghana, Nigeria, and Cote d'Ivoire.

Cotton accounts for US $3.3 billion, the majority of Benin's revenue. The economy of Benin is dependent on subsistence agriculture, cotton production, and regional trade.The top export is cotton around 40% of $8.3 billion Gross Domestic Product (GDP) or $3.3 billion. Africa's three C’s Coffee, Cocoa, and Cotton rule the NYSE-ICE futures soft commodities market.

China as a foreign investor in Africa

China is the largest developing country foreign
investor in Africa. Significant Chinese investment and development finance have
been channeled into infrastructure. Trade with China is growing much faster
than that with the United States and the European Union.

The relationship
started in the early 1980s, as part of concerted diplomatic efforts promoting
Chinese economic cooperation with Africa. The largest share directed toward the
resource sector, notably in South Africa, Angola, Ethiopia, Mali, Nigeria, and
Uganda.

There are 16 major exchanges in Africa, 30 in
total.

1. Ghana Stock Exchange

2. Lusaka Stock
Exchange

3. Malawi Stock
Exchange

4. Johannesburg Stock
Exchange

5. Bond Exchange of
South Africa

6. Stock Exchange of
Mauritius

7. Zimbabwe Stock
Exchange

8. Namibia Stock
Exchange

9. Botswana Stock
Exchange

10. Cairo and
Alexandria Stock Exchange

11. Abidjan Stock
Exchange

12. Casablanca
Stock Exchange

13. Nigeria Stock
Exchange

14. Dar es Salaam
Stock Exchange

15. Uganda
Securities Exchange

16. Nairobi Stock
Exchange

China is only one of several major emerging
economies with an interest in Africa, the others being Brazil, India, The Republic of Korea, the Russian Federation, and Turkey.

Africa received nearly half of the cumulative $54
billion provided by China in global foreign aid through 2012 significantly more
than any other region. Chinese development assistance is frequently packaged
into agreements that mix grants and investment, and concessional and
non-concessional loans.

Investments in infrastructure and mining are
likely to slow, given the recent decreases in global commodity prices, Chinese investment
should continue to add to the domestic demand for goods and services in Africa.

Did you know

Africa’s Top 10 most value exported soft commodities according to the Food and Agriculture Organization of the United Nations 2011 are in order cocoa beans, unroasted coffee, cotton lint, rubber natural dry, unmanufactured tobacco, oranges, tea, refined sugar, maize, and unshelled cashew nuts.

African spirituality plays a great part in the history of the world.Do not respond to a mosquito with a hammer because you will miss and hurt yourself. ~ Kenyan Proverb

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Africa is home to more unknown history than known. A map of Africa does not begin to show the vastness of people, culture, food, living and ancient history of the African continent. Established 2008 Chic African Culture is a learning tool to meet the demand for better education about the entire continent of Africa.

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About Us

Why are we here? Since its founding in 2008, Chic African Culture and The African Gourmet goal is to highlight Africa through her food and culture.